Ishares Trust Correlations

IDAT Etf

USD 33.14 0.00 0.00%

The current 90-days correlation between Ishares Trust and Invesco DWA Utilities is -0.02 (i.e., Good diversification). The correlation of Ishares Trust is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Ishares Trust Correlation With Market

Average diversification

The correlation between Ishares Trust and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ishares Trust and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Ishares Trust . Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

For more information on how to buy Ishares Etf please use our How to Invest in Ishares Trust guide.

Moving together with Ishares Etf

0.86	VGT	Vanguard Information	Pair Corr
0.84	XLK	Technology Select Sector	Pair Corr
0.86	IYW	iShares Technology ETF	Pair Corr
0.86	CIBR	First Trust NASDAQ	Pair Corr
0.86	FTEC	Fidelity MSCI Information	Pair Corr
0.71	IGV	iShares Expanded Tech	Pair Corr
0.8	FDN	First Trust Dow	Pair Corr
0.86	IGM	iShares Expanded Tech	Pair Corr
0.77	UPRO	ProShares UltraPro SP500	Pair Corr
0.81	QTJA	Innovator ETFs Trust	Pair Corr
0.83	QTOC	Innovator ETFs Trust	Pair Corr
0.77	XTOC	Innovator ETFs Trust	Pair Corr
0.82	QTAP	Innovator Growth 100	Pair Corr
0.73	TSJA	TSJA	Pair Corr
0.77	XTJA	Innovator ETFs Trust	Pair Corr
0.73	DSJA	DSJA	Pair Corr
0.8	XDJA	Innovator ETFs Trust	Pair Corr
0.78	XTAP	Innovator Equity Acc	Pair Corr
0.75	IYZ	IShares Telecommunicatio	Pair Corr
0.77	XLY	Consumer Discretionary	Pair Corr
0.74	IBLC	iShares Blockchain and	Pair Corr
0.91	AIPI	REX AI Equity	Pair Corr
0.8	JANW	AIM ETF Products	Pair Corr
0.76	RPG	Invesco SP 500	Pair Corr
0.83	CGUS	Capital Group Core	Pair Corr
0.75	CPAI	Northern Lights	Pair Corr
0.85	PUTW	WisdomTree CBOE SP	Pair Corr
0.75	NERD	Roundhill Video Games	Pair Corr
0.83	SCHB	Schwab Broad Market	Pair Corr
0.76	FFTY	Innovator IBD 50	Pair Corr
0.69	IPAY	Amplify ETF Trust	Pair Corr
0.76	ETHE	Grayscale Ethereum Trust	Pair Corr
0.76	RXI	iShares Global Consumer	Pair Corr
0.89	TRFK	Pacer Funds Trust	Pair Corr

Related Correlations Analysis

	PUI	PWV	SCRYY	MSTSX	LBHIX	VIASP	XTWO	SVII	70082LAB3	XTWY
PUI		0.86	0.47	0.32	0.54	0.22	-0.16	-0.14	0.38	-0.03	PUI
PWV	0.86		0.45	0.39	0.51	0.2	-0.38	0.09	0.46	-0.19	PWV
SCRYY	0.47	0.45		0.13	0.47	0.73	-0.04	-0.52	0.55	-0.33	SCRYY
MSTSX	0.32	0.39	0.13		0.53	-0.36	0.16	0.1	-0.11	0.3	MSTSX
LBHIX	0.54	0.51	0.47	0.53		0.21	0.28	-0.16	0.33	0.26	LBHIX
VIASP	0.22	0.2	0.73	-0.36	0.21		-0.18	-0.32	0.76	-0.56	VIASP
XTWO	-0.16	-0.38	-0.04	0.16	0.28	-0.18		-0.56	-0.51	0.81	XTWO
SVII	-0.14	0.09	-0.52	0.1	-0.16	-0.32	-0.56		0.14	-0.26	SVII
70082LAB3	0.38	0.46	0.55	-0.11	0.33	0.76	-0.51	0.14		-0.69	70082LAB3
XTWY	-0.03	-0.19	-0.33	0.3	0.26	-0.56	0.81	-0.26	-0.69		XTWY
	PUI	PWV	SCRYY	MSTSX	LBHIX	VIASP	XTWO	SVII	70082LAB3	XTWY

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

PWV	+ 0.86	PUI
XTWY	+ 0.81	XTWO
70082LAB3	+ 0.76	VIASP
VIASP	+ 0.73	SCRYY
70082LAB3	+ 0.55	SCRYY
LBHIX	+ 0.54	PUI

High negative correlations

XTWY	- 0.69	70082LAB3
SVII	- 0.56	XTWO
XTWY	- 0.56	VIASP
SVII	- 0.52	SCRYY
70082LAB3	- 0.51	XTWO
XTWO	- 0.38	PWV

Ishares Trust Constituents Risk-Adjusted Indicators

There is a big difference between Ishares Etf performing well and Ishares Trust ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Ishares Trust's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PUI	0.76	(0.01)	(0.02)	(0.01)	1.00	(0.79)	1.82	(1.65)	4.71
PWV	0.54	(0.06)	0.00	(0.04)	0.00	0.00	1.24	(0.94)	5.96
SCRYY	2.03	0.26	0.10	(1.10)	1.94	(3.06)	5.81	(3.52)	15.95
MSTSX	0.48	(0.03)	0.00	(0.41)	0.00	0.00	1.21	(1.00)	4.19
LBHIX	0.10	(0.02)	0.00	(0.28)	0.00	0.00	0.24	(0.24)	0.94
VIASP	0.75	0.16	0.10	(1.17)	1.03	(0.85)	2.00	(1.20)	6.28
XTWO	0.08	(0.02)	0.00	(6.69)	0.00	0.00	0.12	(0.14)	0.53
SVII	0.18	(0.01)	0.00	0.28	0.00	0.00	0.44	(0.53)	4.77
70082LAB3	0.64	0.10	0.08	0.90	0.83	(0.79)	1.75	(0.78)	6.86
XTWY	0.79	(0.19)	0.00	(24.03)	0.00	0.00	1.33	(1.70)	5.49

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